Geared up for expansion in operations, no question of filing insolvency, says SpiceJet amid Go First crisis
SpiceJet has initiated the process of reviving its grounded fleet with the USD 50 million funds received by the airline from the government's Emergency Credit Line Guarantee Scheme and internal cash accruals. SpiceJet had last week announced plans to revive 25 grounded aircraft that will help it capitalise and make the most of the upcoming peak travel season. "We want to scotch any speculation that may have arisen due to the filing by another airline," it said in a statement, clearly referring to Go First's insolvency. The Emergency Credit Line Guarantee Scheme was launched in May 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible Micro, Small and Medium Enterprises and business enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic.
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